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Questions -
Q1. Alex is purchasing a membership in a fitness center. He can pay either $280 now or pay $100 now, $100 in twelve months, and $100 in fifteen months. Which option is better if money is worth 8% compounded monthly?
Q2. Find the proceeds of the following promissory note. A 15-year promissory note dated April 1, 2001 with a face value of $1500 bearing interest at 7% compounded semi-annually, discounted eight years later when money was worth 8% compounded quarterly.
Q3. An obligation of $18000 due one year ago is to be settled by four equal payments due at the beginning of each year, with the first payment now. What is the size of the equal payments if interest is 9% compounded semi annually?
Q4. Debt payments of $3000 today and $4000 due 24 months ago are NOT PAID. Instead you will make a payment of $3000 in 12 months and a final payment in 18 months. If the interest rate is 6% p.a. compounded quarterly, what should the final equivalent value payment be? Assume focal date is in 18 months.
1.Suppose Friedman's made a sale on account for $5000 in February. The customer would be expected to make monthly payments (principal and interest) of $350/month for 18 months. Write the journal entry to record this transaction.
Determine Sonic's adjusted basis the assets Casino Park based upon the purchase price.Casino Park has been a highly productive due to the new Rings
Prepare a problem with Cost of goods Sold. Purchased 86 watches for $12,900 ($150 per watch) on account.Jul. 31 Sold 84 watches for $62,160 cash.
In May 2019, Son received an offer of $400,000 for the land, to be paid over three years. What would be the tax consequences of Son's sale
Compute the carrying value of patent No. 758-6002-1A on each of the following dates: December 31, 2008 and 2012
What will Kelly's six month Economic Profit be when the legislation takes effect? What is Kelly's six month Accounting Profit?
Prepare the current assets section of Aramis Company's December 31, 2012, balance sheet, with appropriate disclosures
becky is the owner of brookstone farm. on january 1 2007 thebeginning of the companys fiscal year becky borrowed750000
Calculate the depreciation expense for each machine in year 1 and year 2 for the year ended December 31
Assuming the company uses amortized cost to account for the investment, record the purchase of the bonds and the entries for 2020 and 2021.
Prepare entries to record the purchase of inventory, cost of goods sold, and sales, during 2010 using the perpetual inventory system
Kristin Stokes and Marikay Blair both graduated from State University in June 2007. After graduation, Marikay took a job as a staff accountant in the Chicago.
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